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Free Enterprise Economy: Definition & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

What is a free enterprise economy?

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1. What is a monopoly?

2. What are the key features of a free enterprise economy?

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About This Quiz & Worksheet

This quiz and worksheet will increase your understanding of free enterprise economies. The quiz will also assess your grasp on concepts like monopolies and other features of this type of economy.

Quiz & Worksheet Goals

Use these assessment tools to:

  • Define free enterprise economy
  • Identify what is a monopoly
  • Determine the goals of a free enterprise economy
  • Understand the limited intervention of a free enterprise economy

Skills Practiced

This worksheet and quiz let you practice the following skills:

  • Making connections - use understanding of the concept of growth and stability
  • Critical thinking - apply relevant concepts to examine information about justice and efficiency in a different light
  • Knowledge application - use your knowledge to answer questions about business owners and how they are allowed to make their decisions in a free enterprise economy

Additional Learning

To learn more about Free Enterprise Economy: Definition & Examples, review the lesson that covers the following objectives:

  • Understand the features of private property and entering into contracts
  • Identify what is meant by competition
  • Understand minimal government interference
  • Define freedom and security as goals of a free enterprise economy
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